Downside Prevails
Our Pivot: 1722.30
Our Preference: Start short selling Gold below 1714.50 with strict stop loss of 1722.30 and profit target at 1699.00 with extension towards 1688.
Alternate Scenario: Upward penetration of 1722.30 will call for 1728 and 1734.
NOTE: GOLD is being capped by a descending trend line along with a strong horizontal resistant region.
Chart with supports & resistances:
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